Asian economic giant to expand ties with Iran

Asian economic giant to expand ties with Iran
TEHRAN (CBI PR Dept.) – CBI Governor emphasized expansion of ties especially in the field of Iranian project finance and said: "By opening branches and Representative offices of Chinese banks in Iran, Chinese bankers can familiarize themselves with Iranian banking sector and ambiguities will be eliminated for further cooperation."

In a meeting with Pang Sen, Chinese Ambassador to Iran, Valiollah Seif considered China as the main economic partner of Iran and added: “Both sides would cooperate based on strategic relationships. Hence we fascinate towards deepening relationship between the two nations."
"With respect to post JCPOA attainments and the lifting of sanctions, we anticipate banking and economic relationships to be enriched more than before. In this regard, leaders of both nations are looking forward to expand bilateral cooperation, therefore it is necessary for both parties to identify the barriers and rectify them." said Seif reminding both sides' mutual cooperation background. 

Pang Sen, the Chinese Ambassador to Iran, acknowledged Seif's vision and said: "After JCPOA, the two nations’ economic and commercial relations have been on the desired course. Utilizing post JCPOA potentials, we can improve our banking ties."  
In the meeting, Dr Seif also discussed financing Iranian projects by China. "In respect of bilateral cooperation, banking sectors of both sides should consider proliferating correspondent relationships", said Seif while Pang Sen responded that given the large volume of development projects in Iran, priorities should be announced to China and China will go on with financing Iranian operations.  
CBI’s highest ranking official referred to entrepreneurs with small scale of transactions and notified: "with regard to economic collaborations, banking sectors in both countries should provide banking services to these entrepreneurs. Unfortunately, this issue has been neglected and it should be resolved immediately.”
According to CBI's Governor, Central Bank has recently taken major steps to implement international standards in banking sector in order to improve its banking relation with European and Asian economic giants. As stated by Dr. Seif, in order to prevent risks in banking cooperation, Iran fulfils its commitment to international regulations.

"By opening branches and Rep offices of Chinese banks in Iran, Chinese bankers can familiarize themselves with Iranian banking sector and this will resolve strict precautions caused by ambiguities and uncertainties. The experience of our cooperation with European banks is a good example." Seif added.
Pointing to the remarkable volume of petrochemical products exported to China, Seif reminded: "We should identify the appropriate solutions for settlement of such trade. During sanctions, transactions were inevitably settled through alternative channels including exchange offices, but this method should be revised due to its high costs and lack of transparency".
According to CBI'S Governor settlement through the banking channels is the best and most reliable option.
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